The market for capesize bulkers could face headwinds this year as the weather phenomenon El Nino transitions into La Nina, according to the global head of research at shipbroker SSY.

The weather patterns refer to the two extremes in variation in Pacific Ocean sea-surface temperatures, known as the El Nino-Southern Oscillation (ENSO).

El Nino is broadly bullish for seaborne dry bulk commodity demand, while La Nina is generally bearish — which means bulker markets could be in for a turnaround later this year, according to Dr Roar Adland.